In spite of the German stock exchange crisis and the Federal Government dragging its feet on the future structure of its tax legislation, German investors channelled over Euros 2bn of equity into private media funds for national and international production in 2002.
According to German fund specialist Vendura, the funds' overall turnover amounted to over Euros 2.098bn last year, which was only slightly below the Euros 2.1bn total posted in 2000 and 2001.
Duesseldorf-based Ideenkapital's Mediastream III fund was the most successful placement in 2002, raising Euros 292.4m from private German individuals to finance such 20th Century Fox titles as Just Married and the Robert Redford thriller The Clearing.
At the same time, Vendura's survey of 45 private German media and entertainment funds noted that several funds such as Kinostar, Neue Bioskop, Scopas, Sunrise, and Target Entertainment raised less than Euros 1m or were wound up without attracting any investors by the end of 2002.
Top 10 German Media Funds 2002
1) Mediastream III Euros 292.4m
2) Alcas 139 Euros 183m
3) Academy Filmfonds II Euros 150m
4) Hannover Leasing Nr 142 Euros 135.2m
5) VIP II Euros 91.6m
6) IMF III Euros 46.5m
7) Sachsenfonds II Euros 45.7m
8=) Hannover Leasing 126 Euros 40m
8=) Hannover Leasing 129 Euros 40m
10) Cinerenta 2001/2002 Euros 38.7m